Graded double eagles going for spot?

Discussion in 'Bullion Investing' started by Dalladalla80, Aug 2, 2019.

  1. Dalladalla80

    Dalladalla80 Member

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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I clicked the link and it tells me the bidding is ended. Simple answer is yes. Common date pre-33 gold graded MS62 or less is usually pretty close to spot with maybe a very small premium for numismatic interest. Surprisingly even the higher graded pre-33 tends to go near spot as well. That's the main reason my preference is pre-33 gold.
     
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  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I can't see the listing anymore, but I take it that for Liberty DE's that's NOT the case, right ? Simply too much scarcity.
     
    Last edited: Jan 1, 2020
  5. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Not unless you can be satisfied with circulated examples.
     
    Last edited: Jan 2, 2020
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  6. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Buying any gold coin that is graded, especially bullion coins for investment
    Purposes probably not you best bet :(
     
    Santinidollar likes this.
  7. imperial-coin

    imperial-coin New Member

    Be carefull where you buy the Chinese have flooded the market with excellent Gold Faked ungraded and even graded. I buy only from high volume brokers who use the latest fraud technology. I used to buy from APMEX until they started charging sales tax on my purchases . Now I shop around more. My favorite Double Eagles are the Coronets 1850-1907 my only lower grades are 2 in AU50, the rest in MS61-63.
     
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  8. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Why ?
     
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  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Hadn't heard them described as Coronets...always called them Liberty's. But sound advice, IMO.
     
  10. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    i am all for collecting what you want :) however buying graded gold for the
    Purpose of investment is a wrong move, you pay a premium in most cases
    You can get back, 1OZ of gold is worth exactly 1OZ of gold regard less
    Of condition be it a MS70 Coin or one that has been run over by a train
    Multiple times...LOL
     
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  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Fair points...but IMO as long as the premium is reasonable relative to the price of gold, it's not a bad thing IF you like the coin for aesthetic and artistic reasons.

    I'm looking at some graded bullion pieces and might pay a 20-25% premium to gold but I like the designs and want the grade/slab. I wouldn't do it if I was buying a TON of gold coins but since I am only buying a few, I would like something other than a plain gold bar or even a plain old American Gold Eagle (though I want some of those, too).
     
    midas1 likes this.
  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Reasonable being the key word, it all depends on what you consider reasonable ?
    If you like for example like double eagles and trying to find the finest examples
    That,s one thing, because when you collect for enjoyment paying to much
    Really isnt a big concern, however when your trying to make money, you
    always buy for the lowest possible price and sell for the highest, that,s
    Economics 101, but when your going this route, never pay for anything
    Graded it will only cut in to your profit and make it harder to sell.
     
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  13. imperial-coin

    imperial-coin New Member

    Yes a graded does command a premium well above spot prices, yet in this day of massive fakes proliferating Ebay and other venues I choose to buy slabbed and verifiable coins. My reasoning is a few hundred over spot is better than being out $1500 on purchasing a fake.
     
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  14. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Well, don’t hold that as a personal vendetta against Apmex. They are a first class outfit. These sales tax issues are implemented by states that figured out they are losing revenue to mail order business. I would suspect in short order that all states will follow suit.
     
  15. chascat

    chascat Well-Known Member

    I will only occasionally buy a graded double eagle. At close to or at spot price I can't see much risk other than if gold tanks.
     
    GoldFinger1969 likes this.
  16. Packrat

    Packrat Active Member

    Coins have always been taxable in Tennessee. Enforcement has stepped up. A recent supreme court decision requires out of state dealers to collect tax on coins and other merchandise shipped to Tennessee. I think we will see more dealers collecting the tax. We are working to get the law changed to exempt coins but so far have not been successful. Tennessee does not have an income tax and relies heavily on sales taxes to fund the government.
     
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  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I remember in 2000 the sales tax exemption had congressional support, times have changed.
     
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  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Eventually I'm going to buy an MS62 or MS63 Saint that is right above bullion....and even if it's in a slab, might take it out so I can have a coin I can touch and feel.

    Might sound stupid but since I'm not going to touch my higher-gradeds that are slabbed, it's a way to experience what it might have been like to hold such a coin like 100 years ago (even though I realize outside of the West and California they rarely circulated in domestic commerce).
     
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Did the U.S. Supreme Court overturn it's own long-standing tax policy involving no physical presence ?
     
  20. imperial-coin

    imperial-coin New Member

    Packrat no vendetta against APMEX just not willing to pay taxes when I can pick up a coin from a place not charging taxes. And I never stated I was from Tennessee so I do not know how you came up with that unless you work for the NSA but you are close
     
    GoldFinger1969 likes this.
  21. Chuck_A

    Chuck_A Active Member

    S. Dakota VS Wayfair is a ridiculous law that all states are adopting.
     
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